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only 6,000 prius sold in the first three quarters, leaving us with the number one electric car in the u.s., yeah, you got it, the always controversial chevy volt which does not make this noise. get this, the best selling car has just 13,000 sales. that's the best selling one. that's the one that does really, really good. the car is constantly a disappoint dollars. that is it for next "the willis report." thank you for joining us and i wish you and your families all have a very, very merry christmas. have a great night. lou: good evening, everybody. obama administration's collectible middle east policy. egypt right now on the grip of the worst political crisis since the fall of the president two years ago. and in syria, increasingly desperate measures to counter an insurgency that is slowly but surely pushing closer to control of the capital city of damascus. we will take all that up there with the fox news military analyst, new intelligence report that concludes america's time as the lone superpower is nearing an end. john negroponte joins us to discuss our nation's future as
looking for a job myself. cheryl: construction, there was a loss of 20,000. most of us expected a little bit of a game and that ector. >> maybe it will take a little bit longer to give up. my brother is still out of his house. they cannot get anyone to do work on it yet. cheryl: let's go over to the cme. i know that metals has been a big focus for a lot of traders today. what are you watching? >> just the price action in gold. it really gives the feedback. people, you know, maybe a risk on trade. it jumps back to the 17th 04 daily highs. that makes me believe i want to belong before the meeting and at the end of the year where we can hit that 1750 range. cheryl: very interesting. let's head over to the imax. i want to talk about a move that we are seeing in oil. it looks like some bearish signs for oil, in particular, when it comes to terms of supply. >> i think we get to 85 and then rebounds and get back up to the 88-89 level. the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and
announcer ] with stamps.com, you can print real u.s. stage for all your letters and packages. it gives you the exact amount of postage youeed the instant you ne it. can you print only stas? no. first class. priority mai certified. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >> monday, december 3rd he and hold on to your wallet. the tax man is coming and he wants to tax everything. there's a long list of everything where the left wants to raise the tax take as of now, monday morning, centers on tax hikes, not spending cuts and certainly not entitlement reform. first to secretary geithner to him and the president, it's all about pushing the republicans to accept tax hikes. >> you know, i can't promise that. that's a decision that lies in the hands of republicans that are now opposing increase in tax rates. if they recognize the reality that we can't afford to extend those tax rates then we have the basis f
declining 12.3%. liz: because of the chicago mercantile exchange. a buying opportunity. and michael tells us why he expects double-digit earnings growth in the new year in what that'll do for equities. jerry leavy at the cme. another was some erosion of the last couple of minutes, the last hour or two. headlines from president obama, john boehner. is this market a little overbought going at the end of the year? >> for my technical perspective, you're absolutely right. they have eclipsed the upper end, and overbought situation. from my perspective and my colleagues, we are shocked trying to figure out the market moving higher. a lot of it is trying to figure out, we know a deal will get done, the real question is what are the ramifications of the deal and how will that affect earnings. as a guy who follows earnings very closely, we see that the drop year-over-year. it was from government. a noted state tax receipts are down adjusted for inflation 1% from 2,082,012. earnings are down on the top line, where does the bigger earnings growth come from? david: we have manufacturing coming in saying
>> wanna and v tonight. a huge break through for u.s. natural gas. a key government study could open the door for eorts and create a boom for the economy. the only thing standing the way though is present obama. we'll drill down with a natural gas company's ceo. >>> plus fighting crazy with crazy. could two plat nurm coins worth a trillion dollars each solve our debt crisis? is it as nuts as it sounds? bear with me here, people. our "money" power panel will break it down. >>> are plastic bags the way to extinction. they're completely banned in two cities. chicago wants to nix them. guess who is behind it? my favorite chicago alderman. i say stop the madness. but alderman joe moreno is here to disagree with me. even when they say it is a not it is always about money melissa: first let's take a look at today's market headlines. mediocrity apparently the reason to buy on wall street today. the november jobs report came in above expectations but the 146,000 jobs added is below average monthly growth for the past two years. that and 350,000 americans left the workforce. it all someh
, tell us how they did. nicole: the one i would talk about that really represents what went on with the financials is bank of america. bank of america hit a 52 week high, sold off, was like a number one loser in if the dow, number two loser in the dow and then moved back and came up off the lows. so it shows you the financials really drive the market one way or another. you really get a good feel. david: bank of america is up over 100% this year even with today's loss. it has incredible turnaround. [closing bell ringing] shibani: the bells are ringing on wall street. it was a roller coaster ride of a day. let's take a look at how stocks are finishing up. it's well on the fence here as to where we're going to close. the dow is lower right now. down about 20 points. the s&p 500 down just about 2 points. nasdaq also eking out a loss, 4.2 points and then the russell also ending the day in the red. david: it was just positive, the dow just moments ago, but it is the turnaround, 150 points since the story. also a trading day for oil, big rally in yesterday's session where it went
seaport complex at a near standstill for the eighth straight day. drake christopher is going to join us with how this could impact your holiday season. lori: i was just kidding, actually. bacon is kosher. i do not eat kosher. melissa: speaking of kosher -- lori: rubbing elbows with the royals. our next ambassador -- you are speechless. melissa: i do not know about that one. time for stocks now as we do every 15 minutes. nicole petallides is standing by. nicole: right now, we are seeing the dow jones industrial average down just 12 points. so far, we are having a losing week on wall street. let's see what happens at the end of the day. these moves are really fractional. the s&p down a third of a percent. december, traditionally, is the best month for the s&p 500 since 1950. we will see whether or not that seems to come to correlation. i want to take a look at some of the auto retailers. it turns out they are not doing so well with their sales. pat boys, in particular, revenue missing for the third time in a row. both companies not seeing sales. warmer weather plays a role. back to you. m
a sign progress is quietly being made with both sides? rich edson is at the white house for us. rich. >> good evening, sandra. house speaker john boehner left the capitol building about 10 minutes ago. he will motorcade over here. he should be here in a short while to begin yet another meeting with president obama. the two had a phone call earlier this week. on the phone the house speaker said they made little progress. aides say over the last few weeks there has been little discussion, constructive discussion moving towards a compromise. this is yet another attempt to get something moving. the white house put an offer on the table. republicans called it a joke. house republicans put a offer on the table. white house said it wasn't serious. since then the two sides have not moved that much closer to one another. the white house wants immediate tax increase on families earning more than $250,000 through a tax rate increase. for republicans they want more detailed spending cut plan out of the white house before they agree to any revenue increases. that impasse has continued. when you t
pressure, however people use that as a buying opportunity which is evidenced in the two-day chart. with the fiscal cliff fast approaching, naturally it's about time lawmakers took a long recess. >> they're gone today, but will be back tuesday. it meets with small businesses in their district, they will highlight what they say i see ae small business tax hike president obama is pushing. the president is skipping town also for a quick stop in northern virginia. there he will meet with a middle-class family to press congress to protect those making less than $250,000 per year for a tax increase by raising rates on those earning more. the white house demanding a tax rate increase. republicans will agree to increase taxes through eliminating deductions. even if they figure out taxes, democrats and republicans still have to resolve significant differences on entitlements. take a listen. >> it is not even the right thing to do first and foremost. visit the trophy that republicans want? is that what they want to do what is right to raise the rates? speak of the american people want us to
. environmentalists, as you can imagine, are not the happy and as more and more countries use coal in just five years, china will be the number one consumer of the so-called dirty energy, we'll talk about that with an environmentalist, also, we also have our eyes on washington, of course, lawmakers are on vacation, but there still is no deal on taxes. nearly every american is going to have to pay more in just eight days if congress can't reach some kind of an agreement. checking the big board right now, the dow jones industrial average is down about 41 points. again, we've got a half day of trading and we close today at 1 p.m., so that traders can go out on christmas break. light volume, but there are significant movers that we'll talk about in just a second. in particular, apple and jb penpejb-- j.c. penney. we have shibani joshi and adam shapiro as well and first to nicole, j.c. penney, a lot of people worried about retail sales, think it's going to hit companies like j.c. penney hard? guess what? the stock is up 4%, why? >> that's a huge move on a day when the major market average, look the at j.c
. governor rick snider. he's going to be joining us live from the office in the state capitol. don't miss this. liz: dangerously close to going over the cliff. you know the date, december 31st. coming up, exclusively on fox business, former treasury secretary paul o'neill as sides dwindle own spendings, he has what needs to be done to get budget under control, easy ways to cut it and who should carry the burden. david: before the busy hour, what drove the markets with today's data download. stocks pushing up for hopes of a deal in the beltway. all three indexes in the green, hosting the three straight day of gains, s&p higher for the first time in two weeks. technology and health care led today's gainers. well, oil posting its first gain in six sessions today, edges higher after prices fell 4% over the past five trading sessions. crude closing the day up 23 cents a barrel at $85.79. u.s. small business sentiment plunging in november to the lowest level in nearly three years. national federation of independent businesses saying the index fell more than five points last month to 87.5, and 3
brand joining us on the state of luxury. adam: right now it is time to check stocks. we will add to the floor of the new york stock exchange. nicole petallides standing there. we are looking to end the week which way. >> reporter: let's see. right now at 13,161, ever so slightly in positive territory. when you look at the markets, keep an eye on 13,155. that is where we ended last friday. we have been up four straight weeks several. the dow has been trending to the upside. when you talk to traders on wall street a continue to think that the rally is in place. the dow, s&p, and nasdaq gaining 45%. these last four weeks. "we are obviously looking good. you are seeing some of the names on the move here. for example, the fear indexes to the upside. names like alcoa, cisco, caterpillar, hewlett-packard are helping the dow along trying to keep the names that are helping. the weighing on the dow would be some of the stocks such as american express, merck, and exxon mobile. adam: we will check in again with you and roughly 15 minutes. thank you very much. lori: congress of for the weeken
us to you have, what you're talking about, what you were hearing. >> this is the framework of the deal they're discussing right now. as just detailed, the automatic spending cuts, that is the outstanding issue. this is what they locked up. end, rates of $400,000 per year, 450,000 tamales and from tax increases. as for capital gains and dividends, they stay the same. the alternative minimum tax, the state tax rose to 40 percent with a $5 million exemption. another one-year extension of long-term unemployment benefits. right now the issue is those spending cuts, the automatic spending cuts, the $94 billion known as the sequestered. but that we bring in a republican congressman from new jersey. thank you for joining us. the framework adjusted tailed, do you think it's something you could get behind? >> the president has repeatedly famously said that we can cut our way to prosperity and, of course, the flip side of that is even more true which is that we cannot tax our way to prosperity although mcconnell said that the tax portion is already worked out and agree upon, if you th
the nation's capital on this. dagen: think those photos are yours and only yours? instagram says it could use your photos in ads, if it wants to. connell: this could cost us. the next on bank account adds. dagen: nicole 5 on the new york stock exchange. nicole: this is unbelievable. we continue to get the headlines out of washington. we have boehner coming out with plan b. we are getting harry reid response saying that speaker banners -- boehner approach is very far away. the markets have managed to move back higher. there is a look at the nasdaq. the dow is a winner of about .5%. connell: let's follow up on this breaking news on the speaker of the house john boehner. dagen: richardson is live in washington, d.c. with what the heck. rich: the house will vote as early as this week to extend tax rates for those making less than a million dollars a year. house speaker john boehner says he is still negotiating plan a with president obama. the reason for the backup plan, speaker boehner says, after optimism, the white house is latest offer has soured the mood within republicans. >> it was essentia
question] >> the risk the president wants us to take, increasing tax rates will hit many small businesses that produce 60-70% of the new jobs in our country. that is the whole issue. [inaudible question] >> i think that is reckless talk. [inaudible question] >> listen, raising taxes on small businesses will not help our economy and will not help those seeking work. i came out the day after the election to put revenues on the table. to take a step towards the president to try to resolve this. >> is there someone you could agree to tax rate increases and protect small businesses may be at the same time? >> there are a lot of things that are possible. the president insists on this position. insist on my way or the highway. next. connell: speaker of the house john boehner. dagen: i think ed henry says no progress and charges at the white house. connell: there is the optimism. it has been waning anyway on the stock market. the speaker talk to you about the phone call about the president needing to get more serious. we will talk more about that coming up. mark warner is supposed to join us from
, no kidding. cme, gary, i wanted to talk gold with you. well, first off, we saw the u.s. dollar hit had a two year high against the japanese yen appearing the japanese are printing money, but gold is stuck in a range right now. why is that? >> well, normally, in a time like this, you see it be the flight to safety. ashley: yeah. >> we're seeing the euro dollar. everybody's going there because there's no negative news. hang on to your hats for the gold. i believe we'll see it getting to 1680 week's end and tach that 1700 mark. again, everybody's worried about the two letters, "fc," fiscal cliff, and pulling from the u.s. dollar, the yen is pulling back, the new regem that's in there, they are doing what they need to do, and nobody's going to gold right now. silver is sneaking up slowly, above the $30 range. we'll see that take off. reason for that is we look at china. china's economy is turning the corner. that's also helping with what you folks talked about earlier in the crude oil. see how it plays out. even though it's a light volume week as far as trading -- ashley: still, though, a downwa
the cliff. he will join us in a moment. american banks on guard for a new round of cyberattacks. your money could be at risk. we will talk to one cybersecurity expert who helps banks, stock exchanges or more protect themselves from attack. lori: a blockbuster deal for the intercontinental exchange, taking over the 200-year-old wall street institution in an $8 billion deal. charlie gasparino has new details. let's get updated on the markets, stocks belong. as we do every 15 minutes, we will check with nicole petallides. nicole: stock market bumping along not far off of the unchanged line so the dow industrials are up nine points worth a gain of 0.1%, the tech heavy nasdaq is one of a three with the down arrow and sweeping out a game today. we are continuing to follow nyse very closely on the heels of the deal that charlie gasparino noticed yesterday and it did come to fruition this morning, duncan neiderauer was here with the ceo of the eyes, intercontinental exchange. they were chatting about the deal that has come to fruition, $8.2 billion deal, premium, a lot of folks are happy about a me
tanked. the senate majority leader said nothing is happening in budget talks and looks like the u.s. is heading for the so-called fiscal cliff. he compared it to the ball dropping on new year's eve dropping on times square more ominously. more from the nation's capitol. in terms of industry groups and what is not working we start with financials. they're the biggest drag. money center banks like bank of america down 1 1/4%. goldman down 1%. morgan stanley down .8 of a percent. all those stocks are under pressure. tech stocks notably weak. apple inching to the round 500 dollar level. down to 510. it was north of 700 when iphone 5 came out early september. so the bear market continues to apple. as you can see, google also down, down about five bucks on the day. ibm down slightly a .10 or two. hewlett-packard off today, down one 3/4%. coming up later we have a contrarian investors sees big opportunity for hp in 2013. he nailed down the move in bank of america this year. he said it was the stock to buy. he was right. stick around for what he has to say about hewlett-packard. interesting
pushing us along throughout this entire last six months. lori: absolutely. thank you so much, nicole petallides on the floor of the new york stock exchange. protests turn violent in lansing, michigan, as union protesters ripped down a tent belonging to right-to-work supporters. becoming the 24th right-to-work states today allowing workers to get the right to join unions. jeff flock is in lansing michigan covering the story for us. i thought it was interesting how you covered the scene there with michigan a few years back, excuse me, wisconsin. >> wisconsin, exactly. not the same kind of intensity. part of that is because this is already pretty much a done deal. there they had not a teacher headed off. the second one being debated right now. but renew over here to the scene of the george romney state office building. george romney, former governor of wisconsin, and father of mitt romney. the large group of protesters are trying to get into the crowd and see. they have essentially ringed the entrance of the building trying to make their voices heard. they feel very frustrated. they fee
for the fallout. tampa mayor tells us what the fiscal cliff means for his city. lori: all talking and no advancement towards a deal. frustrating. on and on and on those politicians go. we will bring you an update. tom corbett saying going over that cliff would be "absolutely frightening for the keystone state." he will join us later. melissa: president obama has been named person of the year. go figure. [talking over each other] lori: was i on the list for rock. melissa: on top. lori: let's get you updated on the markets. lauren simonetti is covering stocks for us today. >> we go break a two-day winning streak. for the s&p, it has been the best two days in more than a month. we are still a little bit more positive. traders kind of sitting on their hands digesting what we have recently had. if you look at, i say risk on because the sectors that are doing well today are once again energy and thanks. utilities not putting in a good performance today. gm shares are up tremendously right now. they took out their highest level in 19 month old little bit earlier today. this on news that
, good news, but a u.s. federal agency's going to signing off blackberry. david: oh, competition. whoever thought blackberry would come back, but it has. liz: at least for the moment, dow not coming back, 72.s down on the day, starting in the green by a tiny bit, but the markets started to the upside, crossed the line 30 times, and at 11:30 a.m. eastern, boehner came out, said spending's the issue. the president's not listening. it basically ruined the marks as you see. s&p couldn't gain here, down eight points. david: looking at the negative numbers, imagine what they would be if the fed did not do the money printing. a lot worse than it was today. could have been worse. facebook, when the market is in the red, facebook in the green, today is not an exception. today, a big bump, over 2% bump. tomorrow, of course, is the third lock up, another 156 million shares of facebook coming online, previous times when that's happened, we saw the stock jump as it did today. liz: right. everybody expected it to fall, it didn't. we're watching that. when apple falls on iphone estimate cuts, so do the
workers areot using up all of the vacation time they are said to be seen as lazy and losing their job. is is a good sign for the economy. how so, steve. not for those two reasons . we don't have too much vacation or little. we do it just right. europe had work like we did. you want lopping beer vacation you can have a stagnant economy like europe. we raise taxes we'll have longer vacation but fewer jobbings. >> you are right. we don't want to be like the french. and ople here i the united states and government union. and i was on vacatn and check my blackberry and read a ri unger e-mail while on vacation. >> you are never onacation. >> you work it anyway. nine out of the 10 are checking their work phones. any time to rejuvenate and come back ragged. >> we need that vacation time to work better. >> when you say ecomy you are talking about gdp. good or ill it is major transaction. have everyone never talk a day off and work 60 hours a week. steve is protesting that. >> there is it a correlation between vacation time and increased productivity. a 2010 study show that americans felt refre
. steve is going to be talking about their expansion right here in the u.s. including a three-star, upscale hotel. they had been focusing on the lower scale hotels. will that hurt their brand, or might it increase it? we'll be asking him. liz: first, what drove the markets in today's data download. stocks closing higher after struggling for direction early on with the dow crossing the flat line 25 times. all three major indices did post gains. technology had to be, right? was one of the best performers along with consumer discretionary. today's top performing sectors, health care and utilities, well, they did lag. the number of americans filing new applications for unemployment benefits falling for a third straight week as we remind you, thises the number you want to see fall. hurricane sandy's impact continues to slowly but surely subside. we had weekly jobless claims dropping by 25,000 last week to a seasonally-adjusted 370,000. the week's prior total was revised upward to 395,000 from 393,000. and treasury prices rising today, pushing yields back down to their lowest level
to believe that is the best route for us to take. speak loudly the decimal be part of the agreement and frankly public and colleagues have learned to say the government will not pay its debts and hold off or something else is bad substance and bad politics. >> obama aides say the company, the engine company in detroit called detroit diesel will announce $100 billion investment in new production as part of the president's visit. melissa: peter barnes, thank you so much. president obama and speaker john boehner are talking, signs of progress or more of the same? it worked in the white house, we're pleased to be joined by some economic writer for the "wall street journal." let's start with these comments from a republican from tennessee known to be reasonable suggesting increase the tax rates on the wealthiest 2% to move on and talk about entitlements getting a little it is realistic to see the deal that might alternately happen? >> hi, lori and melissa. do you think you wil you'll havw december 31? i think this thing will stretch out maybe a few hours before plunging off a cliff. lori
next guest. alex sharpton is with us. it is good to have you. the significance you think of an fha bailout, if it comes to that. >> i do not think it will be ruled out. we probably will have some type of popping off of the fha. if you look at where we stand right now, as an economy, we have a very modest recovery. it is most likely going to happen. connell: the significance of it is, in your mind, what? >> what needs to happen is we need to take note that we are subsidizing the fha again. while the fha is great for lower income borrowers, we are still allowing people to buy properties where they want after they post on the property, they are upside down on our property. that is where we need to be cautious. connell: we talk about it all the time, the housing numbers that are showing improvement. if people are only putting down, you know, the 3.5%, are we getting ourselves into a similar hole to the ones we are trying to dig ourseeves out of? >> unfortunately, we may have. the loans that the fha have increased in the past ten years, has increased tenfold. when you look at that type
up an expert telling us why these exchanges could spell trouble for doctors, hospitals and insurance companies. liz: but what drove the market in the data download? stocks erasing weekly gains with all three major indices ending the week lower with the s&p snapping a three week winning streak. consumer discretionary and utilities for the week's worst performing sectors. the euro surged to its highest level in seven months at the dollar dropped for the fifth day in a row versus the euro to go up another penny to $1.31 is pretty significant, language for the dollar 30, see you hitting the intraday high, u.s. consumer prices dropping for the first time in six months in november following 0.3%. the decline was driven by 7% plunge in the government's gasoline price. dave: a lot to talk about and we will get those details. dan is in the pits of the cme. jason fried telling us why european equities might be the best place to be. and brian is going to tell you how to play these markets if we go over the fiscal cliff. let's start with dan. i want to start with apple. what to you hear from fol
route for us to take. peter: this afternoon, the president will speak in detroit. he will be speaking at and engine company, detroit diesel. obama aides said the company will also announce $100 million new investment and production as part of the president visit. dagen and connell. dagen: thank you very much, peter. peter barnes in washington. connell: groups of union workers expected to continue their protest against michigan becoming the nations 24th right to work state. dagen: we should point out, this just gives people the option of opting out from paying union dues. that is all that it does. the governor says he will not take on this divisive issue. low and behold, he is willing to sign it when it shows up on his desk. >> the governor did not want the kind of confrontation with unions, that, for instance, you saw in wisconsin. they put on a referendum on the november ballot saying we want to constitutionally banned the right of right to work. unions defeated the governor, one of the governor's favorite laws which is this emergency manager walt which he is trying to use to despera
. they are making money. it is a lot more than you think. the retail holiday bliss. toys are us among those planning around the clock service. we have our own version of around the clock. nicole petallides is on the floor of the new york stock exchange. nicole: it really is a time to shop. let's take a look at the major market averages. the tech heavy nasdaq is squeezing out some games. it is up about five points. some other traders talking talking about the fact that yesterday they got a lot of monetary policy. then they start to get economic news of things the a little bit better. they have to digest each piece of economic news. there is a look at the dow. 13,237. it is down about eight points. let's talk about best buys. from 1956, that is when he founded best buy. he is moving ahead. it could be by the end of the week. it is up 15.5%. connell: a news alert from washington. you will see it here live from d.c. as we wait for the speaker, we will hear from a guy who says >> whatever god deal is signed, there will be a lot of pressure. boehner will have to cut a deal that raises taxes. their idea of
, that will go up to 4.7 trillion. whatever happens to this deal will not do anything to get us closer to balance the budget or cutting spending. there are no politics organize around it. democrats think we can borrow money at these rates forever and there is no worry about that, and they will be right until the moment they are wrong and if they are wrong, this countries in a world of trouble. melissa: we're looking at raising taxes on the wealthy, still at the same time that is the issue at the forefront it seems it has to be settled first to get any further. do you think they will settle in the middle on families that make more than 400,000, a lot of people think that will be the point in the middle that we end it, what do you think? >> both sides right now according to today and yesterday are circling around each other at pretty close levels, it looks like we're heading towards an agreement. i think it will be somewhere there. republicans will have to take a real take on increasing taxes on the wealthy because perversely because they held the line on taxes for only so long instead of talking a
far i'm growing demand overseas for supplies from the u.s. soybeans also dropping on slowing demand. david: peter kenny, to see his communicates, some of the best material on what is happening in the market around the world. we have him here live. and peter barnes with the latest developments on the fiscal cliff negotiations, but let's art in chicago with john, two very interesting situations continuing, drama over the fiscal cliff in d.c. and also this week we have the fed meeting. which is more important to the market? >> eventually it will be the fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to support risk assets. you were talking about how the dollar is melting up for the fourth consecutive day. the federal reserve will make a very active effort to continue to support risk assets. whether they're equities or commodities. the metals market had a very positive day, recovering a bit with the damage done last week. risk assets are doing well, but ove
the rest from there. the lady goes on to say it's a quid pro quo give us the monny because we voted for you. the question, will the president offer any hint of a bailout, bailout help for deeroit today. will he address union anger at michigan's right to work legislation? this goes to the heart of government spending and the position of organized labor in president obama's second term. we're right there in michigan. let's go to facebook. weigh in on what's happening there. will detroit get a bailout and what do you think about the unions? will they win? good questions all. now, one of the worst blowouts in nfl history. seattle seahawks beat arizona cardinals 58-0. the cardinals threw four interceptions fumbled four times and gained 154 yards and seattle undefeated at home and then there's this. the new york giants scored only 52 points in the win over the new orleans saints. the star was the rookie and he returned the kick off for touchdown and all purpose yards and kept the giants in the lead. and major result for the economy. people having fewer babies, blaming the economy and one woman wh
with the cliff coming up? >> it's getting worse. it used to be there were big people in the senate and house who wanted to do the public good. right now, at the process, neither side is committed to it. >> what's next then? it was interesting this weekend to hear, for example, john boehner on with chris l wallace on fox news saying we're nowhere. shouldn't they counter with the president even if they think it's a ridiculous offer? >> if i'm advising the republicans, which i'm not, i'd over a republican plan that's progrowth, pro job creation, get rid of grover, and say this is what we're for, mr. president. here's the plan. i would say let's bargain in good faith. >> the sunday talk shows, geithner saying republicans need to deal with it, and others it's a stalemate. do you think that's for show though? it seems like the deals in washington, at this time of the year happen at the 11th hour, last three years especially for taxes. >> could have been for taxes, but,,and the but is very important, if there's a frame work december 31st at midnight, it will be just that. the markets will, i think, rea
had action in the currency pits as the u.s. dollar weakened on optimism over greek and chinese data. the move cement the euro to a -- sent the euro to a six week high. david: let's talk copper for the moment, of course, that's really tied into world growth. it climb today a six week high. this is on signs that there may be some more demand coming for the metal from china and the u.s. as well. as both of our economies begin to churn a little more than expected. the top two copper-consuming countries. >> and following auto sales today, a number of derivatives plays hitting 52-week highs. cooper tire and rubber, genuine parts and carmax taking a hit in today's session. david: all right. and we told you about that breaking news on jpmorgan whale trader, a $5 billion loss for the company. the senate has been investigating. peter barnes with the latest on that investigation. peter? >> reporter: well, that's right, david. the senate, a senate investigation subcommittee has questioned more than 80 people in its probe of $5.8 billion in trading losses in may by jpmorgan chase, the london wha
dollars charge as it repositioned oppositions. charlie gasparino tells us it is even more cuts are on the way. lori: new warnings and ethanol blended gasoline. joining us on whether you should be worried about what you put into your gas tank. let's get up to speed, back the floor of the new york stock exchange and nicole petallides. economic data on the service industry. nicole: looking good, lori and melissa. up 125 points. after two days of selling we are seeing some market action to the upside. we are above the 13,000 mark, well above that. 13,076. the nasdaq squeezing it out. concern for apple, but financials are doing well. let's take a look at the group. laying off 11,000 workers, that is the plan. a new ceo in place and he wants to make his mark. up 6.5%. it is under pressure, nowhere near $700 for the all-time high in september. the latest findings other actually going to use the market share for the ipad to the android in some microsoft folks, they're facing intense competition. with the findings you see stocks down 4%. back to you. melissa: interesting. lori: thank yo
] humana thanks the physicians, urses, hospitals, pharmacists and otherealth professionals who helped us achieve the highest average star rating among natiol medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. love you, grand! [ malennouncer ] humana. ♪ dagen: what is the first ord that comes to mind. yes, it does start with and a. try ambassador instead. she was a big fundraiser for the president, of course. raising over $500,000 for the campaign. she is not interested. she is very happy with her current job. flying this holiday will cost you more this year. it is $469. that is up 4% from last year. the $469 for ticket purchase in late november. if you bought in late october, the price is more like $400. the people of singapore are the least of emotional people in the world. 36% of people say they feel anything at all on a
us up to date, please. we have run a little bit over, turn on. i think it was for a worthy cause. dagen: thank you for making me tear up again, charles. the house speaker is set to update us on these talks in about an hour. connell: we could see a new round of money pumping. the impact as the two-day meeting starts. dagen: michigan's capital under siege. protests over right to work. connell: should we call it an apple tax? on average, families are spending thousands of dollars a year on apple products. dagen: it is not a tax, it is a choice. top of the hour, stocks now and every 15 minutes. nicole: all right, dagen and connell, take a look at the markets. the dow jones industrials up triple digits. the dollar has been lower. they have talked about the gains that we have been seeing over in europe. the euro top 50. that is very interesting, as well. this is the environment. it bodes very well. another winning day here on wall street. drug stocks, bank stocks doing well. the vix, the fear index, is to the downside. let's take a look at urban outfitters. taking a look at their quart
to be joining us exclusively this hour. here's why you have listened to him. is he keeping up pace in the new year and what part of his business is doing better. david: we have a very busy hour coming up, but what drove the market with the "data download." stocks pushing higher today at hopes they're moving higher to a debt deal. all three major indices posting gains with the dow and the nasdaq with a three session winning streak or adding onto that three session winning streak. financials and consumer discretionary for the top performing sectors while consumer staples like. falling for the lowest prices in five months have yet to spur demand. prices are down nearly 7% so far this month following the u.s. department of agriculture decision to cut the greens demand forecast. fact activity in new york state declining for the fifth month in a row in december as new orders dropped in the labor market remains weak. the new york fed empire state index falling into negative 8.1 from negative 5.2 in november. liz: we have larry in the pits of the chicago mercantile exchange. he will let us know about
in vinegar and. we may as well have tomorrow's conversation today. >> it seems as if this helps us understand what is going on. i will bring a new perspective to the fullest fiscal cliff. connell: please. >> what the democrats have been trying to do is get the republicans to agree to raising the rates on [people. if they were to do that, it would at this rate the republican brand which is the do not raise tax rates. connell: they do not care what the level is? >> right. that is what republicans want to run on. if they agree on increases around $20,250,000, then the democrats could say you are not any different than us. what they are trying to do with the million dollar limit is basically take that problem off the table. i think he is actually succeeding with that which is what it would be very hard to agree with that million dollar figure. it will not go very far. the other side of it is the spending in this the questioner. this is the it part of the fiscal cliff. connell: if you look at interest rates, today we bring up the ten year yield, the real movement on this, the real solution to the
for obamacare. and joining us now art laffer, former reagan economic advisor and the best looking 72-year-old i have ever seen. [laughter] thank you, thank you very much, stuart. stuart: now, look, these obamacare taxes, these are totally separate from the fiscal cliff debate. these are taxes which are going it take effect no matter what. and here they come. you can see it. 320 billion over ten years. and you think that's going to have an impact on the economy? >> of course it is. it is-- well it's not the same as extending the bush tax cuts. it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a strong word, art. >> collapse as low as we are, i agree. stuart: now, the obamacare tax change is a change in the tax rate. >> yes. stuart: that's something that the president's absolutely insisting on. he wants t
january. the chief investment strategist of raymond james is joining us now. there's a track record on your side about the last week of december. >> that's right, usually the last week and the week before is when the last of the retail selling takes place and there tends to be upside vacuum between christmas and first couple days of the year. 70% probability of being an up shortened week. dennis: you don't see that percentage going down because of the cliff and all that? >> i think your previous guest was right. i lived inside the d.c. beltway. i think they will come together. they won't get a grand solution, but i think they could get the first step of maybe 500,000 as your other guest suggested in terms of the definition of what wealthy is. i think he's also right on boehner. boehner has been under tremendous personal pressure to cut a deal, and when the new congress sits on january 4th, i'm coming to you from virginia right now, and cantor is indeed the next up and he has a lean and hungry look. dennis: a lean and hungry look. if markets don't rally against expectations for the l
especially with the economic data we got today leading to unemployment tomorrow. liz: what about those of us with day jobs? other than sitting in front of our tv ameritrade or who knows what account making our trade and especially when you see today the ten year yield in treasurys came down once again which makes me believe at certain points, treasury trade and a few trades coming in a matter what. >> it is defense. treasury will come down. they are treading water here which is a positive but volumes are down. volume is slightly over and the treasuuy auctions, the fed is going to announce some kind of treasury buying program to stimulate the economy and keep rates low and that will favor stocks so stocks will take care of what is going on in the treasury market. liz: cap it with the hurricanes and the effect which a reverse from negative to positive at some point. >> you saw jobless claims are up but sandy will handicap it a bit. we will won't see a clean job number until next year. once again it will be at my number and will be waiting for the fed. >> oil coming downn it is simply a story o
, they will not be keen to work christmas eve, and christmas day, that takes us to next wednesday, only a little more than a week ahead of the government possibly hitting a cliff. are you surprised? not at all. a great tragic comedy, neil, they will keep you in a job for the rest of yourife reporting on that. neil: i am not too shocked. i thought this dismissive you, that house leadership had of their rumbling ranks they would swallow this, i didn't see it, a lot of these tea party congressmen, 80 some odd that help propel john boehner to speaker got alleged against having to do the -- got elected to do against the very thing they were called on to do, vote for a tax increase. they could not swallow it. and not see any decrease in spending, you know the definition of this problem is we have a tril don dollar deficit, let's cut it down, neither side is approaching that topic effectively. neil: i have talked with a few tea party types. who said, neil, i would have gone along with this, and would go along with this, if i saw you know a return. or something for the pound of flesh i was offering. that democrat
to tell you, i don't think i had a year where i used up all of my vacation. most of us love our jobs enough that we are working into our vacation time all of the time. >> absolutely . that's what makings the united states so great. like to work. tom brady and payton man aaron rodgers don't want to leave the field or lose their jobs. why would we mess with something that makes us the envee of the world. >> the you got to have family relationships. >> and rick who is pyton manning of journalism. >> i am not a big vacioner, i enjoy working which is why lizy is reading my e-mails while she is on vacation. >> it is relevant in recent history. we saw where walmart and other companies required people who want to take off. and everything in this country unless we need you to show up for work. i want to get back foemac. i know how hrd you work . there are times, is there been a year whether you used awful your vatime? i don't think yo have. >> that's why i feel like i am losi my mind. i got to knock i off. >> and that is interesting. germany and the eu. germany had highest vacation days eu .
suggesting that they continue to use the 85 billion number. i do not know if they can justify that quite frankly when you have the economic data that we continue to see. you mentioned china coming in, the increase in electric production which is a great sign meaning that the economy is picking up. there was a big fear that mcdonald's and the american consumer would step away. i have a hard time believing that the said will be able to go on their way and actually put something in place that will say we need to continue this. liz: mcdonald's is proving the naysayers wrong. all three parts of their business looking very healthy. it is not exactly dependable when it comes to any company. we are looking at a market that is in the narrowest trading sent october. >> take a look at some of these stocks. let's start with lockheed martin. you have a defense that you have a bleeding defense sector stock. that will obviously be impacted greatly depending on what happens. if you look at lockheed martin over the last six-eight weeks, it really has held its own. it is trading in a fairly narrow range.
recoveries in u.s. history. it helps when you can go straight back and doing what you were doing. stuart: if only we had done in 2009 what ronald reagan did in 1982, but i'm out of time. you know i'm out of time, now that. >> which is set the highest rate at 50%? >> no. >> that's what it was. stuart: it stimulates the private sector, not all government all the time. that's the story. aw austan, i'm sorry, i really am out of time. thank you, sir. more "varney & company" in a moment. >> a strong earthquake hit the coast of japan in the same region where the fukushima plant was devastated last year. no tsunami waves this time around. 7.3 magnitude quake and shook buildings more than 200 miles away in tokoyo, a tsunami warning has now been called off. we've been reporting this for months here on "varney & company." gun sales, they are absolutely booming. and now, smith & wesson, the gun people, they made a profit and they raised their outlook and the stock is going to be up come that opening bell. charles,you're buying gun stocks? >> i've got to it will you, i wanted to feature this on maki
♪ just like the ones that i used to know ♪ ♪ honey, it's where the tree tops, tree tops glisten ♪ ♪ and little bitty, little bitty, little bitty children, they're trying to listen ♪ ♪ to hear, hear for the sleigh bells that are ringing in the snow ♪ ♪ i wanna tell you one more time what i'm thinking about ♪ ♪ imus, imus, imus in the morning ♪ >> moments ago the new york stock exchange observed a moment of silence following the events in connecticut last friday. it was a somber moment in the financial world. ten minutes from now, trading will begin and these are the stories which we will concentrate on this monday morning. speaker boehner says, go ahead, raise tax rates on millionaires, that's a retreat. it's a new offer from john boehner, a higher tax rate on incomes over a million a year. gas prices really falling fast. in the whole state of missouri the average is 2.94. nine states are within a few cents of breaking below $3 a gallon. and yes, it's the monday after the connecticut shooting and father jonathan morris is here for "varney & company." scuba divi
back and update us. we have breaking news on motorola. if you throw the letter x in front of everyone, everyone gets glittery eyed. a new phone called the x phone. no real details on this. google owns a lot of patents. google stock down 1%, but motorola working on a new iphone and samsung galaxy s-3 it is internally known as though x phone. tortorella has run into some obstacles, but there you are. we have run into gyrations today. stock options, equity options, let's take it to the traders that have been dealing with is that the new york stock exchange cme group. john cortina, what was it like last night? how closely we want to mess with the stock futures dropping precipitously. it's not as bad as it could've been, is that right? >> yes, it's amazing what twitter can provide for you for information. i was at my child's recital and might twitter feed was going on. clearly, we saw a lot about last what happens overnight is that there's not a lot of volume or liquidity. you're going to see that shipped. the volatility in the market. especially that we saw with the s&p. if things like th
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